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Selected data from Komar Company follow. Balance Sheet As of December 31 2014 2013 Accounts receivable $ 394,000 $ 380,000 Allowance for doubtful accounts (19,700
Selected data from Komar Company follow.
Balance Sheet As of December 31 | ||||||
2014 | 2013 | |||||
Accounts receivable | $ | 394,000 | $ | 380,000 | ||
Allowance for doubtful accounts | (19,700 | ) | (15,200 | ) | ||
Net accounts receivable | $ | 374,300 | $ | 364,800 | ||
Inventories, lower of cost or market | $ | 484,000 | $ | 436,000 | ||
Income Statement for the Years Ended December 31 | ||||||
2014 | 2013 | |||||
Net credit sales | $ | 2,012,000 | $ | 1,758,000 | ||
Net cash sales | 419,000 | 304,000 | ||||
Net sales | 2,431,000 | 2,062,000 | ||||
Cost of goods sold | 1,590,000 | 1,422,000 | ||||
Selling, general, and administrative expenses | 240,000 | 214,600 | ||||
Other expenses | 39,300 | 23,600 | ||||
Total operating expenses | $ | 1,869,300 | $ | 1,660,200 | ||
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